Supply, Demand, and Price Change

Supply, Demand, and Price ChangeFor the retiring(a) 30 years, the Federal Trade voltaic charge has investigated nearly all petroleum-related antitrust matters and has held public hearings, conducted economic studies, and wide-awake extensive reports on relevant issues. Since 2002, the staff of the FTC has monitored periodic mediocre retail throttle and diesel costs in 360 cities across the country in order to find pricing inconsistencies that might record anticompetitive conduct, and to baffle action where appropriate. This is the only industry in which the FTC maintains this oddball of a price monitoring project (Federal Trade agency [FTC], 2005). In a July 5, 2005, article titled ?FTC Releases Report on ? gas Price Changes: the propelling of Supply, Demand, and competitor,?? the Federal Trade electric charge reports that it issued a report entitled ?Gasoline Price Changes: The Dynamic of Supply, Demand, and Competition? (the ?Report?). The Report analyzes the many different factors that wee a bearing on the rise and fall in the prices that U.S. consumers atomic number 18 paying for natural gas. The Report examines a wide range of gasoline price factors, including the cost of vernacular oil, change magnitude national and world(prenominal) demand, and federal, state, and local regulations, all of which entice the prices consumers pay at the pump.

one(a) of the Report?s conclusions is that over the past 20 years, changes in the price of crude oil wipe out led to 85 percent of the changes in the retail price of gasoline in the U.S., while other important factors drop included increasing demand, supply restrictions, and federal, state, and local regulations such as ?clean can? requiremen! ts and taxes (FTC, 2005). The article goes on to quote electric chair Deborah Platt Majoras as stating, ?U.S. consumers be frustrated by rising gasoline prices, and they deserve to discern the facts. Further, only through a operose look at the facts can... If you want to get a sufficient essay, order it on our website: OrderEssay.net

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